Collegium Pharmaceutical Stock Forecast
Collegium Pharmaceutical stock price ended at $32.47 on Friday, after losing 3.56%.
(Updated on May 17, 2024)
The Collegium Pharmaceutical stock price fell by -3.56% on the last day (Friday, 17th May 2024) from $33.67 to $32.47. During the last trading day the stock fluctuated 4.01% from a day low at $32.40 to a day high of $33.70. The price has been going up and down for this period, and there has been a -13.44% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 361 thousand shares were bought and sold for approximately $11.71 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $31.37 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.00% during the next 3 months and, with a 90% probability hold a price between $30.11 and $38.35 at the end of this 3-month period.
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COLL Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 3.08%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Collegium Pharmaceutical stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $33.56 and $36.35. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Collegium Pharmaceutical stock
Collegium Pharmaceutical finds support from accumulated volume at $32.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.30 between high and low, or 4.01%. For the last week, the stock has had daily average volatility of 4.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COLL) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Collegium Pharmaceutical to open at $32.86, and during the day (based on 14 day Average True Range), to move between $30.98 and $33.96, which gives a possible trading interval of +/-$1.49 (+/-4.58%) up or down from last closing price. If Collegium Pharmaceutical takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.15 (0.99%) than the resistance at $33.98 (4.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Collegium Pharmaceutical stock A Buy?
Collegium Pharmaceutical holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.026 Sell Candidate Unchanged
Predicted Opening Price for Collegium Pharmaceutical of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $32.86 ( 1.19%) | $32.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COLL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.16 | 5.19 % | |
| R2 | 33.66 | 3.67 % | ||
| R1 | 33.35 | 2.72 % | ||
| Current price: | 32.47 | |||
| Support | S1 | 32.36 | -0.339 % | |
| S2 | 32.05 | -1.28 % | ||
| S3 | 31.56 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.09 | 20.39 % | |
| R2 | 36.35 | 11.95 % | ||
| R1 | 33.98 | 4.65 % | ||
| Current price | 32.47 | |||
| Support | S1 | 32.15 | -0.99% | |
| S2 | 31.76 | -2.19% | ||
| S3 | 31.50 | -2.99% |
FAQ
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